I Put My Trading Strategies to the Test on My Funded Account — Transcript

Full transcript

1. 0:00This is the profit that I made on two
2. 0:01trades today using a combination of
3. 0:03breakout trading and Fibonacci trading.
4. 0:05I've used this exact strategy to get me
5. 0:07out of nearly $2,000 worth of drawdown
6. 0:10on the account, and I'm going to walk
7. 0:11you through exactly what I saw, why I
8. 0:14entered where I did, and where I put my
9. 0:16stop loss and take profit. Then I'm
10. 0:18going to show you how it played out in
11. 0:19the account dashboard so you can see the
12. 0:21actual numbers. So, let's start with
13. 0:23what price did before I entered. All
14. 0:24right, this is Monday, December 19th.
15. 0:27What I like to do first is draw a dotted
16. 0:30line around the Tokyo session range.
17. 0:33Then the concept is simple. This is the
18. 0:34breakout portion, which basically
19. 0:37directs my bias for the day because in
20. 0:40my experience what I've seen is that
21. 0:42once the Tokyo range has been broken out
22. 0:45of, price tends to continue in that
23. 0:47direction for a majority of the day, or
24. 0:49at least enough to get a nice successful
25. 0:50trade out of it. So, the first thing
26. 0:52that I like to do is measure the
27. 0:55distance of the range, top to bottom.
28. 0:57And as you can see here, it's 13 pips. I
29. 1:00like to round up, so half of the range
30. 1:03is going to be my stop loss. So, with
31. 1:05this specific example, it's going to be
32. 1:07seven pips. But that doesn't mean that
33. 1:09my stop loss is exactly 50% of the
34. 1:12level. I'm waiting for a breakout above
35. 1:15or below and a candle closure above or
36. 1:17below. My entry price is at the close of
37. 1:21candle. So, from close of candle, my
38. 1:24stop loss is going to be 50% of the
39. 1:26range. In this particular example, it's
40. 1:28going to be seven pips. Now that we've
41. 1:30had a breakout of the range to the sell
42. 1:32side, I set up my short position. My
43. 1:35stop loss is going to be seven pips, and
44. 1:38my take profit is going to be a
45. 1:39one-to-two risk-to-reward ratio, so the
46. 1:42take profit is going to be 14 pips. Now,
47. 1:45I will explain this pink line here in
48. 1:47just a moment. I entered the trade
49. 1:49solely based on this. Then once I've
50. 1:52entered all my parameters for my trade
51. 1:53and I've actually entered my trade, I
52. 1:55can then casually take my time and look
53. 1:57left and see what price is doing before.
54. 2:01Maybe there's some gaps, as you can see
55. 2:03here on the chart, or maybe there's some
56. 2:05other price action or liquidity grabs
57. 2:07that I would like to target. So, as you
58. 2:09can see, the top part of the gap is
59. 2:11still open. So, overall, this could
60. 2:13reverse and close that gap instantly.
61. 2:15But, since we've taken the breakout to
62. 2:16the sell side, I'm now looking at the
63. 2:18rest of this price where we had some
64. 2:19crazy bullish momentum, and maybe it'll
65. 2:22come down and also balance that area.
66. 2:24So, overall, I'm comfortable with my
67. 2:26take profit and my stop loss as it
68. 2:28stands right now. As price starts moving
69. 2:31in our direction, you can see that we
70. 2:33started to retrace. Now, if you know
71. 2:36anything about market structure, higher
72. 2:38highs and higher lows are bullish market
73. 2:40structure. So, if we look at this move
74. 2:42right here, this impulse move from top
75. 2:45to bottom, it had broken the previous
76. 2:48structure, basically failing to make a
77. 2:51higher low. It made a lower low. So,
78. 2:54this is the momentum that I'm thinking
79. 2:56and my bias that price has actually
80. 2:59shown me. So, my bias is bearish, but
81. 3:02once price started retracing this much,
82. 3:04I immediately went to my Fibonacci
83. 3:06retracement tool. I took my Fibonacci
84. 3:08retracement tool from the top to the
85. 3:11bottom of the impulse move that broke
86. 3:14the structure.
87. 3:15And I could see that the Fibonacci gold
88. 3:17zone between the 0.5 and 0.618
89. 3:21was above my set stop loss. This trade I
90. 3:26actually shared on my Telegram group,
91. 3:28and as this candle formed, I posted a
92. 3:31screenshot with this pink line and
93. 3:34saying, "I'm moving my stop loss to this
94. 3:38pink line so that it stays above the
95. 3:40Fibonacci gold zone. And if we get a
96. 3:43rejection off of the 618 level, I will
97. 3:47enter in a second position." As price
98. 3:50came to the 0.618
99. 3:52Fibonacci retracement, we had a large
100. 3:55rejection. On a 1-minute time frame, we
101. 3:58had a strong rejection wick candle, so I
102. 4:01entered an additional short position on
103. 4:03the 1-minute time frame. Let me move
104. 4:05this over here so that we don't get
105. 4:07confused. I entered in at the 618 after
106. 4:09the 1-minute rejection, and my target
107. 4:12was just below the previous low. And
108. 4:14because I'm now in an additional
109. 4:17position, and I've doubled basically my
110. 4:19exposure on this one price movement, I
111. 4:22decided to reduce the take profit level
112. 4:26of the first trade to the take profit
113. 4:28level of the second trade. Because
114. 4:30basically, this is going to be my main
115. 4:32trade, and this one I just want it to
116. 4:34get to break even or a little bit more.
117. 4:37Within 10 minutes, price had hit my take
118. 4:40profit level. I said on Telegram, I'm
119. 4:43out because when I trade Fibonacci, I
120. 4:46always like to play the cautious side
121. 4:49and think that price will make a double
122. 4:51bottom. Because it might not always
123. 4:53continue down to the Fibonacci extension
124. 4:56levels, but capturing liquidity from the
125. 4:58previous low is very common. That's how
126. 5:00double bottoms and double tops are
127. 5:02formed, and then price rejects up. I
128. 5:04didn't want to risk that, especially
129. 5:05because this exact setup in these trades
130. 5:08that I entered were actually on my Fund
131. 5:10or Pro instant funded account, and I
132. 5:12really want to protect that capital at
133. 5:13all costs because I've been on this
134. 5:15grind to get myself out of drawdown for
135. 5:18the last 2 weeks. So, immediately there,
136. 5:21I was done trading for the day. So, I'm
137. 5:23going to remove these two positions, but
138. 5:25I still want to discuss the original
139. 5:27breakout trade, which we had moved our
140. 5:29stop loss to that pink line, and our
141. 5:31take profit was 14 pips. Because most
142. 5:34people in the Telegram group were still
143. 5:35in that trade. Most people didn't take
144. 5:38the Fibonacci retracement entry as I
145. 5:40did. I told everyone that price would
146. 5:41probably continue down, but I needed to
147. 5:43protect my capital, and then within the
148. 5:46next 20 minutes, we had hit full take
149. 5:49profit and then some. As price started
150. 5:51retracing massively, I immediately went
151. 5:54back to my Fibonacci retracement tool.
152. 5:57Because now that this trade was
153. 5:58successful, and clearly we have a lot of
154. 6:01bearish momentum, maybe we'll get
155. 6:03another Fibonacci retracement. So, I
156. 6:05took my Fibonacci retracement tool from
157. 6:07the top of the move to the bottom of the
158. 6:10impulse move that broke the previous
159. 6:12structure, which was right here. We had
160. 6:15already retraced to the Fibonacci gold
161. 6:17zone and above. So, I was very cautious
162. 6:19on this one. And I waited for a strong
163. 6:22rejection candle. On my personal
164. 6:24account, I got into a trade right here,
165. 6:26and I didn't want to target the bottom
166. 6:28because of this strong rejection wick
167. 6:30and bullish candle. That's a lot of
168. 6:32support right here at the previous low.
169. 6:34Price went into profit just a little
170. 6:35bit, and within the next hour or so, it
171. 6:39came back up and created a double top.
172. 6:42So, what I did again was I entered in on
173. 6:44that double top, kept my stop loss super
174. 6:47tight, again reducing the take profit of
175. 6:49the original trade, and closed the trade
176. 6:52here in profit. Both trades, one
177. 6:54essentially just above break even, and
178. 6:56the other one full profit. These are
179. 6:58tiny little scalps that you can get out
180. 7:00of the market if you work on these three
181. 7:02strategies that I've been explaining to
182. 7:04you over and over again. Breakout
183. 7:07trading, Fibonacci retracements, and RSI
184. 7:10divergences will save your life. The
185. 7:13reason I added the second position, not
186. 7:16only because it was a double top, but
187. 7:18because it was an RSI divergence. You
188. 7:21can see right here, we made a double top
189. 7:23on the 1-minute time frame, while the
190. 7:25RSI failed to make a higher high and
191. 7:28made a lower high. That is a double top
192. 7:32RSI bearish divergence. That gave me the
193. 7:35confidence to enter the second trade,
194. 7:37and now on two accounts, I ended the day
195. 7:39in profit. Now, as you can see on my
196. 7:42Funded Pro dashboard right here, my
197. 7:44equity curve
198. 7:45I had a good run. I explained this in a
199. 7:48previous video, started an automation
200. 7:50that did very poorly, and brought me
201. 7:52down to about $1,600 worth of drawdown.
202. 7:56And since then, I've been manually
203. 7:58grinding my way back up, keeping low
204. 8:00risk, low reward, grinding and grinding
205. 8:04all the way back up to here, where I'm
206. 8:05now $304.92
207. 8:08in profit. Now, because I have more room
208. 8:10to breathe, I can increase the risk a
209. 8:12little bit and try to generate more
210. 8:13income off of this account. These are
211. 8:15the two trades that I made today, which
212. 8:17you can see match the screenshots that I
213. 8:19showed you before, and you can also see
214. 8:21the arduous climb that I had out of this
215. 8:23hole. Now, one of the cool things about
216. 8:25Funded Pro is that you don't have to do
217. 8:26the challenge anymore. I know it's a
218. 8:28pain in the butt, and a lot of people
219. 8:29fail it. You can go straight to an
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225. 8:43means that instead of an 80/20 profit
226. 8:45split, you'll keep 90% of the profits.
227. 8:47And if you use coupon code TMA15 right
228. 8:49now, you will get a fat ass discount.
229. 8:51But, if you don't actually have the
230. 8:53budget for a large funded account, what
231. 8:56you can do is actually go to
232. 8:57fundedpro.com/tma,
233. 9:00and they're doing this offer just for my
234. 9:03audience. You can get a $1,000 funded
235. 9:06account challenge for a dollar. It's
236. 9:09less than a can of soda. So, if you've
237. 9:10always wanted to try a funded account
238. 9:12challenge, that's what you need to do.
239. 9:14Anyway, I hope that you guys got some
240. 9:15value out of seeing how I react to the
241. 9:18market, how I enter trades, my logic
242. 9:21behind it, when I get out, when I
243. 9:24increase the risk and move my stop loss,
244. 9:27the reasoning behind it. There always
245. 9:28has to be a reason, not just hope. You
246. 9:30can't hope that the trade's going to go
247. 9:32in your direction. You actually have to
248. 9:34have concrete evidence to back up your
249. 9:36theory. So, as you can see,
250. 9:38there was more potential that I left on
251. 9:40the table, but because I'm preserving my
252. 9:42capital, I'm playing it safe. I'm not
253. 9:45trying to shoot for the moon. I'm trying
254. 9:46to take my small slice of the pie and
255. 9:49close my day in profit. It keeps your
256. 9:51mental health positive, and it keeps
257. 9:53your account alive. Money is money.
258. 9:55Never think to yourself in retrospect, I
259. 9:57could have made more had I held it, cuz
260. 9:59that will burn you to death later.
261. 10:02Thanks so much for watching. Share this
262. 10:03video with your friends that are day
263. 10:04traders, and we will see you in the next
264. 10:07one.